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LEASE AGREEMENT 1415: LEASE FOR PROFESSIONAL CONSULTING ENGINEERING FIRM WITH TERMINATION RIGHTS IF THE FIRM IS DISSOLVED $99.95

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Lease Agreements
LA1415

Product Overview

This lease form is designed for a professional engineering firm taking space in a multi-tenant office building. The lease gives the tenant the right to sublease a certain amount of the premises (the amount is capped) to other engineering entities without the landlord's consent.

The lease also gives the tenant the right to terminate the lease if the firm dissolves, but the tenant is required to pay a termination fee to the landlord if it exercises the termination option.

Number of Single Spaced Pages: 42

 

Quick Look

OFFICE LEASE FOR CONSULTING ENGINEERING FIRM

This Lease is made as of _________________, by and between COMMERCIAL PROPERTY LANDLORD, INC., a __________________ corporation ("Landlord"), and AGREEABLE TENANT, INC., a _________________ corporation ("Tenant").

Effective Date: ____________________

BASIC LEASE INFORMATION

Landlord:

Landlord's Address

For Notice:

With a copy to:

Landlord's Address

For Payment of Rent:

Tenant:

Tenant's Address

For Notice:

with a copy to:

Project

Building:

Premises:

Premises Address:

Street:

City and State:

Lot:

Term:

Estimated Commencement Date:

Base Rent: Months Monthly Base Rent

Base Year: The calendar year is _________.

Tenant's Share: A fraction, expressed as a percentage, the numerator of which is the rentable square footage of the Premises and the denominator of which is the rentable square footage of the Building.

Security Deposit:

Broker:

Lease Year:

Permitted Uses: Professional engineering consulting firm with related office use compatible with a first-class office building and no other uses shall be permitted without the prior written consent of Landlord, which may be given or withheld in Landlord's sole and absolute discretion.

Guarantor:

Termination Rights: See section 18.

The Basic Lease Information set forth above and the Exhibits attached hereto are incorporated into and made a part of the following Lease. Each reference in this Lease to any of the Basic Lease Information shall mean the respective information above and shall be construed to incorporate all of the terms provided under the particular Lease paragraph pertaining to such information. In the event of any conflict between the Basic Lease Information and the provisions of the Lease, the latter shall control.

1. PREMISES.

1.1 Premises. Landlord hereby leases to Tenant the Premises as shown on Exhibit A attached hereto, but excluding the Common Area (defined below) and any other portion of the Project. In the event there are tenant improvements to be made by Landlord pursuant to a Work Letter attached to this Lease, which may result in an increase or decrease in the size of the Premises, the Premises shall be measured in accordance with the 1996 standards promulgated by the Building Owners and Managers Association in conjunction with the American National Standards Institute, Inc. (ANSI/BOMA 265.1-1996) upon completion of such improvements to determine the actual rentable square footage. If the actual rentable square footage of the Premises following working drawings is different from that stated in the Basic Lease Information, the actual rentable square footage of the Premises as well as the Base Rent, and the Tenant's Share of Operating Expenses and Real Property Taxes, adjusted as necessary to reflect the increase or decrease in the rentable area of the Premises, shall be set forth in the Commencement Date Memorandum referred to in Section 2.1 below.

1.2 Common Area. Tenant may, subject to rules made by Landlord, use the following areas ("Common Area") in common with Landlord and other tenants of the Project: the entrances, lobbies and other public areas of the Building, walkways, landscaped areas, driveways necessary for access to the Premises, parking areas and other common facilities designated by Landlord from time to time for the common use of all tenants of the Project.

1.3 Reserved Rights. Landlord reserves the right to enter the Premises for any reason upon reasonable notice to Tenant (or without notice in case of an emergency) and/or to undertake the following all without abatement of rent or liability to Tenant: inspect the Premises and/or the performance by Tenant of the terms and conditions hereof; change the boundary lines of the Common Areas; make such alterations, repairs, improvements or additions to the Premises as required or permitted hereunder; install, use, maintain, repair, alter, relocate or replace any pipes, ducts, conduits, wires, equipment or other facilities in the Common Areas or the Building; grant easements on the Project, dedicate for public use portions thereof and record covenants, conditions and restrictions ("CC&Rs") affecting the Project and/or amendments to existing CC&Rs which do not unreasonably interfere with Tenant's use of the Premises; change the name of the Building or Project; affix reasonable signs and displays; and, during the last nine (9) months of the Term, place signs for the rental of and show the Premises to prospective tenants.

2. TERM.

2.1 Commencement Date. The Term of the Lease shall commence ("Commencement Date") on the first day of the first full month following the date on which the Premises are Substantially Complete (as hereinafter defined) except that if Substantial Completion occurs on the first day of a month, that date shall be the Commencement Date, and the Lease shall continue in full force and effect for the period of time specified as the Term or until this Lease is terminated as otherwise provided herein. The Premises shall be deemed to be "Substantially Complete" on the earliest of the date on which: (1) Landlord delivers to Tenant an architect's notice of substantial completion, or similar written notice that the Premises are substantially complete and, if required, a certificate of occupancy (or a reasonably substantial equivalent such as a signoff from a building inspector or a temporary certificate of occupancy) is issued for the Premises, or (2) Tenant first occupies all or any portion of the Premises (except for initial fixturing and installation and testing of telecommunications and data processing systems as provided for in Section 25 below). Landlord shall arrange for the construction of certain Tenant Improvements (as defined in the Work Letter attached hereto as Exhibit B), if any, in accordance with and subject to the terms of the Work Letter. Tenant shall, upon demand after delivery of the Premises to Tenant, execute and deliver to Landlord a Commencement Date Memorandum in the form attached hereto as Exhibit C, acknowledging (i) the Commencement Date, (ii) the final square footage of time Premises, and (iii) Tenant's acceptance of the Premises. If the Premises are not Substantially Complete on the Estimated Commencement Date as extended by Force Majeure events and delays caused by Tenant's action or failure to act, this Lease shall remain in effect, Landlord shall not be subject to any liability, and the Commencement Date shall be delayed until the date the Premises are Substantially Complete. Tenant has determined that the Premises are acceptable for Tenant's use and Tenant acknowledges that, except as may be expressly otherwise provided in this Lease, neither Landlord nor any broker or agent has made any representations or warranties in connection with the physical condition of the Premises or their fitness for Tenant's use upon which Tenant has relied directly or indirectly for any purpose.

2.2 Possession. Tenant's possession of the Premises during the period of time, if any, from the date on which Landlord tenders possession of the Premises to Tenant in a Substantially Complete condition (the "Possession Date") to the Commencement Date, shall be subject to all the provisions of this Lease and shall not advance the expiration date. Rent shall be paid for such period at the rate stated in the Basic Lease Information, prorated on the basis of a thirty (30) day month, and shall be due and payable to Landlord on or before the Commencement Date. Tenant shall acknowledge in writing the Possession Date in the Commencement Date Memorandum attached as Exhibit C.

3. RENT.

3.1 Rent. Tenant shall pay to Landlord, at Landlord's Address for Payment of Rent designated in the Basic Lease Information, or at such other address as Landlord may from time to time designate in writing to Tenant for the payment of Rent, the Base Rent, without notice, demand, offset or deduction, in advance, on the first day of each calendar month. The Rent to be paid hereunder by Tenant will be received by Landlord without any deduction or offset whatsoever by Tenant, foreseeable or unforeseeable. Except as expressly provided to the contrary in this Lease, Landlord shall not be required to make any expenditure, incur any obligation, or incur any liability of any kind whatsoever in connection with this Lease or the ownership, construction, maintenance, operation or repair of the Premises or the Project. Upon the execution of this Lease, Tenant shall pay to Landlord the first month's Base Rent. If the Term commences (or ends) on a date other than the first (or last) day of a month, Base Rent shall be prorated on the basis of a thirty (30) day month. All sums other than Base Rent which Tenant is obligated to pay under this Lease shall be deemed to be additional rent due hereunder ("Additional Rent"), whether or not such sums are designated Additional Rent and, together with the Base Rent, shall be due and payable commencing on the Possession Date. The term "Rent" means the Base Rent and all Additional Rent payable hereunder.

3.2 Late Charge and Interest. The late payment of any Rent will cause Landlord to incur additional costs, including administration and collection costs and processing and accounting expenses and increased debt service ("Delinquency Costs"). If Landlord has not received any installment of Rent within five (5) days after such amount is due, Tenant shall pay a late charge of ten percent (10%) of the delinquent amount, which is agreed to represent a reasonable estimate of the Delinquency Costs incurred by Landlord. In addition, all such delinquent amounts shall bear interest from the date such amount was due until paid in full at a rate per annum ("Applicable Interest Rate") equal to the lesser of (a) the maximum interest rate permitted by law or (b) five percent (5%) above the rate publicly announced by ____________ Bank, N.A. (or if ____________ Bank, N.A. ceases to exist, the largest bank then headquartered in the State of _____________________) ("Bank") as its "Reference Rate." If the use of the announced Reference Rate is discontinued by the Bank, then the term Reference Rate shall mean the announced rate charged by the Bank which is, from time to time, substituted for the Reference Rate. Landlord and Tenant recognize that the damage which Landlord shall suffer as a result of Tenant's failure to pay such amounts is difficult to ascertain and said late charge and interest are the best estimate of the damage which Landlord shall suffer in the event of late payment. If a late charge becomes payable for any three (3) installments of Rent within any twelve (12) month period, then the Rent shall automatically become due and payable quarterly in advance.

3.3 Security Deposit. Upon the execution of this Lease, Tenant shall pay to Landlord the Security Deposit. The Security Deposit shall secure the full and faithful performance of each provision of this Lease to be performed by Tenant. Landlord shall not be required to pay interest on the Security Deposit or to keep the Security Deposit separate from Landlord's own funds. If Tenant fails to perform fully and timely all or any of Tenant's covenants and obligations hereunder, Landlord may, but without obligation, apply all or any portion of the Security Deposit toward fulfillment of Tenant's unperformed covenants and/or obligations. If Landlord does so apply any portion of the Security Deposit, Tenant shall immediately pay Landlord sufficient cash to restore the Security Deposit to the amount of the then current Base Rent per month. Upon any increase in Base Rent, Landlord may require the Security Deposit to be increased by the amount of the increase in Base Rent per month. After Tenant vacates the Premises, upon the expiration or sooner termination of this Lease, if Tenant is not then in default, Landlord shall return to Tenant any unapplied balance of the Security Deposit.

4. BUILDING SERVICES AND UTILITIES. Landlord agrees to supply, subject to the other provisions of this Lease, reasonable janitorial service and reasonable amounts of heat, water for drinking purposes, air conditioning and electric current for office machines and normal lighting Monday through Friday, from 8 a.m. to 6 p.m., and on Saturdays from 9 a.m. until 1 p.m., except for generally recognized holidays (the "Usual Building Hours"). However, Tenant shall be permitted access to and use of the Premises and parking areas serving the Premises twenty-four (24) hours per day, seven (7) days per week, subject to the provisions of this Lease. Landlord shall not be liable for any interruption of said utilities and services when such interruption is caused by strikes, mechanical failure, accidents or any other conditions beyond the reasonable control of Landlord, nor shall there be any abatement of rent as a result thereof. Tenant shall not install or use in the Premises any machines or any apparatus or device, which individually or in the aggregate will generate excessive heat or increase the amount of electricity, water or air conditioning usually supplied for use of the Premises as general office space, or in any way create a burden on or adversely affect the normal functioning of the heating, ventilation and air conditioning ("HVAC") system of the Building. If requested by Tenant in writing in advance in accordance with the Building's standard procedures for HVAC service during non-Usual Building Hours, HVAC service shall be provided to the Premises other than during Usual Building Hours, provided that Tenant shall pay to Landlord, as additional rent, for each such hour of HVAC service during non-Building Hours, the then standard charge by Landlord for such service in the Building (which shall be determined by Landlord in Landlord's reasonable business judgment based upon Landlord's good faith estimate of the actual cost of such HVAC service, including, without limitation, reasonable administrative costs). Tenant shall use only the electrical outlets and water pipes existing in the Premises upon completion of the initial Tenant Improvements. In the event Tenant utilizes or consumes utilities or services after Usual Building Hours or in amounts which are appreciably in excess of those utilized or consumed by the average office tenants in the Building, Tenant shall reimburse Landlord, as Additional Rent, upon receipt of demand therefor, for the cost of such excess consumption. In addition, Landlord shall have the right at any time to cause water meters or electric current meters to be installed in the Premises for the purpose of measuring such excess consumption, in which event Tenant shall pay to Landlord, as Additional Rent, the cost of any such meters (which shall be the property of Landlord), as well as the cost of installation, maintenance and repair thereof. Tenant shall comply with all rules and regulations which Landlord may reasonably establish for the proper functioning and protection of the HVAC, elevator, and plumbing systems. Landlord shall at all reasonable times have free access to all mechanical installations in the Premises, including, but not limited to, air conditioning, fan, ventilating and machine rooms.


(continued)


End of Excerpt

 

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